Is it true that you folks are selling 1/2 your gold, and if so why would you advertise it so that the price would fall before you sell it, or are you doing it this way so that the rich people can get rid of some of their useless currencys and buy gold cheaper. just wondering...god bless

-- jim berner (bernj@aol.com), June 01, 1999

Answers

I live in the UK and thought the same thing.

-- Graham hyslop (Bob@ghoward-oxley.demon.co.uk), June 01, 1999.

The ways of the Old Lady of Threadneedle Street(aka The Bank of England) are indeed puzzling. However,Eddie George,the Governor is in the middle of complex negotiations with UK banks re loaning them money to enable them to meet anticipated cash withdrawals in December. Maybe these two things are connected ??? Or Maybe the UK Government needs to borrow extra money or draw on its reserve funds to mee the UK costs of the Nato bombing ???

-- A questioning (griffen@globalnet.co.uk), June 01, 1999.

Hey, it ain't the people selling.

-- Jim the Window Washer (Rational@man.com), June 01, 1999.

My Italian father said many times the following French saying, "lazaran ci va l'qure" (exs.spell) "Takes silver to make wars". I would think that the war is being funded by both sides selling gold. But lets not forget that if someone is selling, someone is buying. The question is who???. justthink

-- justthinkin gold (y2k@justthink.com), June 01, 1999.

The U.K gold announcement was a shock to me as well. Why announce your intentions of dumping your gold on the market? The price could only drop with the increased supply. If it truly has lost it's value as a store of wealth (their argument)and has not appreciated in price for over 15 years, why sell at a relative historic low that you created? None of it makes any sense. The fact that the UK stated they were putting the money into U.S. dollars was strange as well. Seemed like a good way to depress the price, scare away those who jumped in at the get go (for 290/oz.), and discourage people from stocking up by promising more supply and low prices "sometime" in the near future. They are aware of the potential disruption of Y2K. It seems like it would make more sense to wait to see if the price went up and sell discretely. Am I missing something here? Too much X-Files?

Bumper sticker of the day: "Jesus is coming -- look busy."

-- ariZONEa (sunset@home.com), June 01, 1999.

There's nothing magic about gold......sure, it has held a certain value and demand in the past. However things are changing rapidly as I'm sure you would agree. It may go up in value however as our currencies are no longer connected to gold, what makes anyone sure that it will even be anywhere as important in the coming years.........it's still all speculation. Anything is only valuable as long as people believe it is valuable. Gold has apparently lost its lustre.

-- Craig (craig@ccinet.ab.ca), June 02, 1999.

the chancellor and the head of the bank of england decided, they didn't consult the people of course, presumably everything they do has a purpose, maybe to deflate the value of gold

-- dick of the dale (rdale@coynet.com), June 03, 1999.

If you really want to know what's going on here, you would do well to understand these guys.

Rothschilds

-- humpty (iam_not_a_number@hotmail.com), June 03, 1999.